Paragon Exchange Private Limited is in the business of Currency Exchange, since May 2011. Focusing our slogan “We Deliver Happiness” Paragon Exchange has join hands with Western Union FSI GmbH as an agent for Inward Remittances business in Pakistan. Parex is serving a broad customer base by its country wide branches network. “Paragon Exchange Private Limited”, is registered as a private limited company with Securities & Exchange Commission of Pakistan under the Companies Ordinance 1984, and it is licensed by the State Bank of Pakistan (SBP) and according to FE-Circular No. 09 of 2002 of the State Bank of Pakistan, “An exchange company can deal in foreign currency notes, coins, postal notes, money orders, bank drafts, travelers cheques and transfers. “ Paragon Exchange is also a valued member of “Lahore Chamber of Commerce and Industries” via its membership #74745-C. Registered Name: Paragon Exchange Private Limited. Registered Office: Plaza no 16, Commercial Zone, Cavalry Ground, Lahore Cantt, Lahore, Pakistan SBP License #: 0032
Whether you need
Foreign Currencies Or
Western Union Payments.
Vision
We will leverage our expertise, infrastructure and state of the art technology to provide un-paralleled customer responsiveness. With challenges comes the opportunity, we desire to be the fastest, biggest and the most reliable Global Money Transfer distributor of Pakistan. We also aim to be the most dynamic, pioneering and diversified countrywide Foreign Exchange Specialist. We will focus on network building by striking long lasting and profitable relationship with our Customers & network partners and bring this money exchange transfer services within the reach of every citizen of Pakistan. Keeping in mind our vision we are already planning to open more branches/ payment booths in different cities of Pakistan. In view of the importance of IT and e-commerce on the global level we are well equipped to meet its challenges. We have entered the 21st century with the brand new image backed by our strong IT team.
Mission
We have always worked shoulder to shoulder with the Government of Pakistan as well as State Bank of Pakistan in order to maintain the stability in currency market. We pledge that we will abide by the highest ethical standard to achieve our Vision. We seek motivated, creative and responsible individuals who will take pro-active action in matters of preventing Money Laundering and any other illegal operations, who will exercise initiative to grow the business each day. In turn we will provide them with great opportunities for their professional growth.
Our Perfect Departments
Compliance Department
At Paragon Exchange (Pvt.) Ltd, we are committed to operate within policy and procedures provided by State Bank of Pakistan (SBP) as per Foreign Exchange Regulatory Act 1947 under the guidelines for which SBP issue Exchange Company Manual and time to time issue FE circulars. We have highly educated staff which are ACCA qualified and are highly committed to raise the working standards in our Compliance department. Trainings are timely given to our operational staff for matters such as understanding of all the threats faced by our company including Money laundering, Terrorism Financing and fraud, in prevention to that we give them comprehensive understanding terms and conditions of our products and services, of the policies and procedures of Anti-Money Laundering, Combating Financing Terrorism and Anti-Fraud Policies, Prevention Procedures, KYC/EDD, and customer services etc.
Operations
The Opertions Department is directly responsible for managing the day-to-day operations (and profitability) of the Paragon Exchange (Pvt.)Ltd. Our credibility and good reputation are the fundamental assets upon which we have built our business.We believe every team member has a broad range of strong skills. They are commercially very strong and willing to take calculated risks . The team has strong communication and persuasion skills supported with a strong character . Operations Department give suitable exchange rate from the market to their customers . Every individual has hands on knowledge of the market and we rarely find such people in the market of Pakistan.
Treasury
Treasury Department determines the Company financial strategy and financial policy – advising on what businesses to invest in, organising the appropriate funding for this, and controlling the risk in the organisation.Treasury is responsible for Fund Allocation , identification of risks associated with this activity and for controlling risks that could erode financial strength, using mitigation and hedging techniques and encouraging a culture of sound financial practice.
Accounts
Accounts department of Paragon Exchange (Pvt.)Ltd. is responsible responsible for some key roles, including accounts receivable, accounts payable, financial reporting, maintaining financial controls ,taxation and ensuring the company to keeps a positive net worth value.
HR
Dynamic HR professionals who love to challenge the conventional wisdom and believes in innovation while bringing theory to practice; have strong believe in Strategic HR.This led the Paragon Exchange (Pvt.) Ltd. to venture into a full time Human Resource Management & Development Firm.Expertise of HR is in developing HR processes and embed policies and procedures into Information Systems. Working on various HR related initiatives including deployment of HRIS that will make HR related information readily available and will automate various HR processes.
Administration & security
Having 15 years of vast experience in strategic planning, staffing, budgeting, resource allocation and leadership of administrative field, maintenance, training and logistics. Admin Team has been handling the procurement, control, management supervision of operations,Security and maintenance of entire fleet .Involved at different levels in close coordination, building government relations, media projection, planning and implementation of Corporate Social Responsibility Projects.
Information Technology
Paragon Exchange (Pvt.) Ltd. has a highly professional IT Team having good command over IT and is efficient in managing IT related issues. IT Department is well versed with database functions .Which enables them to help and guide other professionals in accessing and understanding their respective modules and their behavior. Every individual is hard working with positive mind set and working as specialist I.T Administrator. IT Team prompt to provide easy and effective solutions & monitor opportunities, cater to the growing needs of IT, develop policy alternatives,update the security Plan and rapidly implement initiatives for building an nationally competitive IT upgradation .
Customer Support Center
We are committed to exceeding our customer’s expectations by actively engaging with them and ensuring prompt actions for continuous improvement in our products, rate and services.
Marketing
Our Marketing department promotes our business and drives sales of its products and services. It provides the necessary research to identify our target customers and other audiences. We have Social Media Experts to attract our target customers through different media channels.
Our marketing strategy :
- Analyse the different needs of different groups of customers
- Focus on a market niche where We can be the best
- Aim to put most of your efforts into the 20 per cent of customers who provide 80 percent of profits.
Internal Audit
Team of Qualified and Experienced professionals with relevant certifications are entrusted to provide oversight, to the Audit Committee and Board of Directors, of the financial reporting process, the audit process, the system of internal controls and compliance of laws and regulations.